Kuwait and the United States are deepening their financial cooperation to combat money laundering, terrorism financing, and other financial crimes. The latest discussions in Washington highlight the growing strategic partnership between both countries.
Head of the Kuwait Financial Intelligence Unit (KFIU) Dr. Hamad Al-Mukrad met with senior US Treasury officials. They discussed ongoing efforts and shared priorities. The talks focused on improving financial cooperation through joint initiatives and exchange of expertise.
Therefore, the Kuwaiti delegation included representatives from the Ministries of Foreign Affairs and Interior. It also had representatives from the General Administration of Customs. Together, they reviewed Kuwait’s progress since the Financial Action Task Force (FATF) evaluation report issued last year. Dr. Al-Mukrad emphasized that Kuwait has completed several major reforms in record time.
Among these reforms were updates to the Anti-Money Laundering and Counter-Terrorism Financing Law (Law No. 106/2013) and the International Cooperation Law. These changes aim to strengthen legal frameworks for assistance, extradition, and enforcement. They also enhance transparency and accountability across Kuwait’s financial system.
Dr. Al-Mukrad explained that the National Committee for Combating Money Laundering and Terrorism Financing completed a national risk assessment. They also launched a year-long awareness campaign. This effort targets the private sector. It encourages stronger compliance with anti-money-laundering (AML) and counter-terrorism financing (CFT) standards.
The committee also improved coordination among domestic agencies and financial institutions to enhance reporting quality and overall system effectiveness. These steps reflect Kuwait’s determination to meet global financial integrity standards and strengthen financial cooperation with international partners.
Assistant Foreign Minister for Development and International Cooperation Affairs, Ambassador Hamad Al-Meshaan, noted that financial cooperation with the US remains central to bilateral relations. He highlighted progress achieved through joint listings, regular consultations, and active coordination between authorities on both sides.
The two nations agreed to expand financial cooperation through joint workshops, capacity-building projects, and information-sharing programs. These initiatives aim to reinforce global security and economic stability.
Earlier, First Deputy Prime Minister and Interior Minister Sheikh Fahad Al-Yousef Al-Sabah reaffirmed Kuwait’s commitment to advancing security collaboration with the US. Their focus includes counter-terrorism, organized crime, and cybersecurity. This marks another step toward stronger strategic alignment and trust between the two allies.
